Alistair, darling, you are out of step with the high earners!

The Chancellor is banking on a higher rate of income tax for those earning £150000 and above as he attempts to offset a crippling recession.  The Chancellor feels that this move will protect the worse-off from a higher rate of income tax; nevertheless, the move is seeing by those affected as a way to punish them for their high earnings instead of rewarding them for being so.  It was widely felt in the city that is was a puerile contest since the suggested 45 per cent band would only touch a mere 400000 tax payers which will not be a gargantuan amount of revenue.  Having said that the recovery is a long way off and the Chancellor sees this move as the start of something big. Good luck to him says I.

P. Figueras